Coffee price continued forming strong negative trading, to face 50%Fibonacci correctional level, which forms a strong support at 292.85, then bounces quickly towards 302.05 as appears in the above image.

 

We expect forming some mixed trading, but its repeated stability above the current support will  reinforce the chances for gathering the positive momentum and begin recovering the losses by targeting 313.60 level, reaching the barrier at 327.05.

 

The expected trading range for today is between 395.00 and 313.60

 

Trend forecast: Bullish